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SAA business rescue plan approved

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86% of creditors voted in favour of the business rescue plan.

The plan is now going to be adopted and implemented, after a six-month delay.

“The DPE [Department of Public Enterprises] believes that the favourable vote is a much better outcome for creditors and SAA employees than liquidation, and the government remains confident that the implementation of the business rescue plan will balance the rights and interests of all parties,” read the statement.Saunders was at the International Air Transport Association before joining SAA.

 

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